Survey: Most holiday shoppers to cut back in at least one area
Consumers are weighing trade-offs when it comes to their spending this holiday season.
More than half of Americans (52%) expect the current economic environment to affect their approach to holiday spending “at least a fair amount,” according to a new survey from financial services company Thrivent.
More than two thirds (68%) plan to cut back in at least one area this holiday season. Dining out (44%), gifts for family and friends (32%) and travel (31%) are the primary areas where Americans plan to spend less.
Two thirds (66%) of those surveyed said they will purchase fewer gifts, up from 56% in 2025. Forty-six percent plan to buy for fewer people, up from 37% last year. About half (51%) plan to purchase less expensive gifts.
Nearly four-in-10 (38%) say they are more concerned about managing their holiday finances than in past years. Among those who are more concerned, three-quarters (75%) point to the rising cost of everyday items, while 72% say inflation is negatively impacting their household finances heading into the holidays.
For a large chunk of consumers, spending concerns came long before the holiday season. More than a third (35%) of respondents said they've reduced spending on essential items in the past six to 12 months.
[READ MORE: NRF: Affordability top of mind for holiday shoppers]
"The holidays can bring pressure to show people we care through spending, but higher everyday costs are forcing many families to make difficult choices about what they can realistically afford," said Alexander Newby, financial advisor at Thrivent. "The goal isn't to spend your way to a meaningful holiday. Start with what you can afford, decide what matters most, and build a plan that takes both into account."
Thrivent’s survey was conducted by Ipsos from Sept. 29 through Oct. 8 using the probability-based KnowledgePanel. The poll is based on a nationally representative probability sample of 2,158 U.S. adults ages 18 and older.
